Regulation 2 Interpretation

In these Regulations unless the context otherwise requires—

• “accounting period” means any accounting period in relation to which Schedule 19AB has effect;

• “the Board” means the Commissioners of Inland Revenue;

• “the closing transitional date” shall be construed in accordance with regulation 3(2);

• “the corresponding accounting period”, in relation to a provisional repayment period, is the accounting period in which that provisional repayment period falls;

• “insurance company” means a company to which Part II of the Insurance Companies Act 1982^f1 applies;

• “the Management Act” means the Taxes Management Act 1970^f2;

• “maximum reduced entitlement” has the meaning given by paragraph 4(6) of Schedule 19AB;

• “the opening transitional date” shall be construed in accordance with regulation 3(1);

• “paragraph 4” and “paragraph 5” mean, respectively, paragraph 4 and paragraph 5 of Schedule 19AB;

• “provisional repayment” has the meaning given by paragraph 6(1) of Schedule 19AB and “provisional repayment period” shall be construed in accordance with paragraph 1 of that Schedule;

• “Schedule 19AB” means Schedule 19AB to the Taxes Act;

• “the Taxes Act” means the Income and Corporation Taxes Act 1988.